Rogers Communications RCI Q2 2026: Beat on EPS and Revenue, But a $1B Charge Erased Net Income
As seen on the 24/7 Wall St. homepage on July 22, 2026.
Rogers beat earnings and revenue expectations, but a $1 billion non-cash revaluation charge tied to its escalating $4.35 billion deal to own all of MLSE wiped out the net income line. Media revenue exploded 53% on sports consolidation while wireless pricing pressure cut postpaid additions to just 22,000 subscribers.
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Rogers reported Q2 2026 earnings per share of $1.15, edging past the $1.13 analyst estimate by about 1.7%, while revenue of $5.615 billion topped expectations of $5.562 billion by roughly 1%. Those headline beats were overshadowed, however, by a $1 billion non-cash revaluation charge tied to the company's escalating $4.35 billion deal to acquire full ownership of Maple Leaf Sports and Entertainment, which wiped out the net income line entirely.
The MLSE transaction did deliver one standout result: media revenue surged 53% on the back of sports consolidation, a striking figure that reflects how meaningfully the deal is reshaping Rogers' revenue mix. On the wireless side, the picture was less encouraging. Pricing pressure in Canada's competitive mobile market held postpaid net additions to just 22,000 subscribers for the quarter, a number that will draw scrutiny given how central wireless remains to Rogers' overall business.
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Looking at recent quarters, Rogers has beaten EPS estimates in six of the past eight periods, though the margin of outperformance has narrowed. The Q1 2026 quarter was the lone miss in that stretch, coming in at $1.01 against an estimate of $1.02. Investors will be watching whether the MLSE integration costs continue to weigh on reported earnings in the quarters ahead, even as the underlying operating businesses broadly track or exceed analyst expectations.